SEATTLE--(BUSINESS WIRE)--Leading plaintiffs’ rights law firm Hagens Berman is turning its national resources and legal expertise to supporting entrepreneurs and small businesses suffering from sudden unforeseen loss of business, supply chain interruption and event cancellations due to the outbreak of the novel coronavirus, COVID-19.
“Fifty percent of small businesses have reported that they could shutter after three months of a COVID-related shutdown. It’s no secret businesses across the nation are suffering in a way never before seen,” said Steve Berman, managing partner and co-founder of Hagens Berman. “We want to do everything in our power to support small businesses against insurance bad faith, and uphold their rights under business protection policies.”
“We’re certain that right now, insurance companies are building their own legal defense against claims brought from small businesses,” Berman added. “We want to level the playing field and give entrepreneurs a fighting chance to save their livelihoods, their passions and their futures.”
What Options Exist for Businesses Affected by COVID-19 Under Insurance Claims?
The firm is seeking to assist business owners who had the foresight to protect against risks of this nature and are now being denied on the very coverages they paid extra for to protect them in times like this. Owners who have yet to file claims, or who have already begun their insurance claim under event cancellation or supply chain interference insurance should contact the firm for a case review at no cost.
“In many instances, business owners may not fully understand the conditions of coverage that exist for them under their policies,” said Rob Carey, partner and head of the firm’s Phoenix office. “We want to be sure they know fully the protections they are entitled to before filing their claims.”
Hagens Berman’s attorneys are assisting those with policies in reviewing their rights and assessing if they were denied a claim or underpaid.
“Many times insurance companies will shortchange small business owners,” Carey added. “That’s something we highly anticipate given the large number of business claims that will likely be filed this year due to coronavirus-related business loss and government-mandated shutdowns.”
Pitfalls for Businesses Making COVID-19-Related Insurance Claims
Attorneys say that business owners should be aware of whether their insurer agreed to pay benefits for their canceled events, and if it paid the proper amount for all losses covered by the owner’s policy. Business owners need to understand their policy’s coverage conditions and limitations.
Carey added that oftentimes entrepreneurs and small business owners may have purchased supply chain and business interruption insurance policies, but don’t understand the scope of the coverage, especially during unforeseen circumstances like a pandemic or related government-mandated shutdowns and closures.
“How do the pollution and containment exclusions operate? Does the policy require actual contamination,” he said. “These are the fine print details that we’re here to sort out with businesses in a consultation.”
Hagens Berman Sobol Shapiro LLP is a consumer-rights class-action law firm with nine offices across the country. The firm’s tenacious drive for plaintiffs’ rights has earned it numerous national accolades, awards and titles of “Most Feared Plaintiff’s Firm,” and MVPs and Trailblazers of class-action law. More about the law firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.